UK-based advanced R&D firm DG Innovate has entered the domestic electric vehicle market in collaboration with Indian electric commercial vehicle startup EVage Motors. The joint venture, with 60% ownership by DG Innovate and 40% by EVage, aims to manufacture electric motors for both domestic and international markets, reported PTI.
This partnership will also enhance EVage’s proprietary EV stack, strengthening its position as a vertically integrated company. DG Innovate, founded by a former Tesla executive, is known for developing products in collaboration with major manufacturers, research institutions, and the UK government. The venture will manufacture DG Innovate’s Pareta electric drive system in Punjab, targeting the Asian EV market.
By offering more efficient electric trucks with longer life and reduced ownership costs, the companies aim to capitalize on India’s manufacturing capabilities and meet the region’s growing demand for electric vehicles. DG Innovate plans to leverage its expertise and team of former Tesla managers and engineers to expand its market share in Asia. EVage, on the other hand, will benefit from access to electric motors with 98.5% efficiency.
Together, they will utilize EVage’s Mcube micro factory to manufacture motors, supporting India’s first native commercial EV platform. This collaboration aims to meet the increasing demand for electric vehicles in India, with top clients already including Amazon.
This partnership will also enhance EVage’s proprietary EV stack, strengthening its position as a vertically integrated company. DG Innovate, founded by a former Tesla executive, is known for developing products in collaboration with major manufacturers, research institutions, and the UK government. The venture will manufacture DG Innovate’s Pareta electric drive system in Punjab, targeting the Asian EV market.
By offering more efficient electric trucks with longer life and reduced ownership costs, the companies aim to capitalize on India’s manufacturing capabilities and meet the region’s growing demand for electric vehicles. DG Innovate plans to leverage its expertise and team of former Tesla managers and engineers to expand its market share in Asia. EVage, on the other hand, will benefit from access to electric motors with 98.5% efficiency.
Together, they will utilize EVage’s Mcube micro factory to manufacture motors, supporting India’s first native commercial EV platform. This collaboration aims to meet the increasing demand for electric vehicles in India, with top clients already including Amazon.
